Analysis of our financial situation

Hi,

Well, if you really have to watch your money closely, turning every cent twice, then betting on a bargain is a tricky thing. It can backfire. And if house prices then rise a bit, you’ll have some problems.

But if money isn’t quite that tight, then I’d take that risk easily. Above all, it’s not even a risk. Because in this case here, the OP has a good rent, good income, and good age. So, he’s not losing anything at all!

If prices go up in 3-4 years (assuming that happens, which I don’t believe), then he’ll have saved approx. 200k! Houses won’t get much more expensive than that anyway!

With the argument “Buy now because everything will be expensive tomorrow,” it feels to me like they want to lure those who don’t earn that well into a quick cost trap.

The OP doesn’t have to fall for such trickery at all. Those who have money, and the OP does, HAVE to do nothing!

@OP: Don’t drive yourself crazy! Enjoy the time now, get informed, inquire endlessly, keep your eyes open and enjoy the savings rate and the freedom. Given your salaries, I assume you don’t knock off work at 2 p.m. and then just sit in your apartment from morning till night in winter anyway. Go to the sauna, take weekend trips to cool hotels, and so on and so forth. But do everything to avoid pressure—which will come plenty in life—for as long as possible.

And for both of you, in my opinion, it is ABSOLUTELY UNNECESSARY to tie yourself down to 500k now!

Wait, whether prices rise or fall. It doesn’t really matter with your numbers.

Here in the forum everything is, of course, geared towards “building now”… Many conveniently beautify their own numbers in the process… That’s normal.

Keep your eyes open, research other areas where you could imagine living, and investigate prices there, etc. It’s a cool phase. It’s a great feeling when you walk through the streets knowing you’ll soon be able to afford this or that without having to pay 2k net every month for 30 years.

When I say “cash,” I simply mean that the money is available. How you finally do it smartest doesn’t matter here and now.

So, congratulations on the great starting position and good luck with your decision-making! Because this can definitely change your life in one way or another. So take enough time.

And remember one thing: Those who are in a hurry pay for it! (A truism from the business world).

And the feeling that the house actually belongs to you, and at a young age, is absolutely cool! I find it very sad that not everyone can feel/experience this financial freedom. At the same time, I’m glad I can. And you can too! Easily even!!!

To me, all this sounds like you’re bitter that it’s not like that for you, very negative, partially unclear what you want to say, and I also wouldn’t know why the nice things you mention couldn’t happen in parallel and why a project description should then no longer allow that.

For me, it all sounds like you’re bitter that things aren’t going your way, very negative, partly not understandable what you want to say, and I wouldn’t know why the beautiful things you mention couldn’t also run in parallel and why a project description would then no longer allow that.

Hi Noelmaxim, interesting to read that I come across as bitter. I write "I" specifically because I can exactly do that. My house is paid off, I’m under 40, have zero pressure, and I’m doing well. I have lots of time, can pursue my hobbies, and even be "active" here in the forum. So that you read bitterness into me may say something about you? If yes, that would be a pity. I don’t wish that on anyone! And that brings us to the topic of why I write what I write. I know exactly what it is like to live in a house that "belongs" to you. That freedom is incredible. Many unfortunately experience it only at retirement. Or partly never... THAT is what I find sad. And if I see someone who has the financial means to also enjoy exactly the freedom I mention and have experienced, and who then even asks me why I wouldn’t build/buy at that level, then I’m quite willing to share that with him and others interested. So, now to finances and leisure activities... So, sure, everyone can go for a walk after work, do sauna visits, city trips, etc., etc... (Let’s exclude the Harz4 recipients). If you’re an average earner and have bought a house (say 500k), then things get a bit tighter. For example: 1400 loan repayment net per month for the house. 200 reserves 200 operating costs 100 insurance 500 car 300 food etc. Then you’re quickly at 3-3.5k net per month in ongoing costs. If you have children, you’re quickly at 4-4.5k net. (Generously calculated). Managing that as an "average earner" is quite a challenge. 4-4.5k ongoing costs per month and then city trips, sauna, long-distance travel, etc. and as an average earner don’t exactly go hand in hand. Being an "average earner" and walking the alleys of BW and seeing that you could afford this or that property doesn’t really fit together either. I know exactly what it feels like when you walk through the alleys and know you can’t afford the houses. I also know exactly what it feels like to stroll through the alleys and know that you can afford it. I find the second variant even nicer than the first.

Who does that? A consumer has solidified thoughts and checks if the project is feasible and doable and then I come and say wait a bit longer?

1) Me 2) That’s what a forum is for. Different opinions, etc... 3) Among others, he asked me.

I can’t see anyone who told the OP you should build, everything is getting more expensive!

Then maybe you haven’t been active in this forum that long? Or we read different threads?! The tenor here is always similar. If you have "enough" money, it’s: build now, tomorrow is too late because everything is expensive. If you don’t have "enough" money it’s: save save save. Both hints are fine... I just have another... namely: if you have a very good saving rate, a fair rent, and already good equity, then save another 3-4 years and you will save yourself immense pressure! It’s like the attempt with children and the surprise egg. You tell the children to wait with opening and then they get another one. If they open it immediately, there is no more. The children who waited were, according to statistics, the "more successful" children later on. Patience is a virtue.

???? Can’t see at all what you want to say!

You’re asking right now. Then I can gladly explain again.

???? Can you not do that anyway, even with a project realization?

Yes, but only to a limited extent... (See example with house or without etc). Sure... If you want to live the sweet life and don’t care about tomorrow, then you can do everything! Strangely, that’s often those with a less good financial outlook. True to the motto: better off missing an arm than being destitute. That has some justification... But the OP is doing very well financially. Then you can also point to the next level. If it is as close as with the OP, then I try as a nice person to point him to it. He doesn’t have to follow my advice... He can also buy the cabin for around 800k, put down 200k, and pay off 600k with about 1900,- per month for 30+ years. Everyone as they like.

No idea what you want to say, really not

Well, here I am again, in another forum the professional scapegoat for 9 years

It honors you if you feel sorry for people, but firstly that's not what this is about at all and secondly, suffering is not appropriate here for the OP, of course you should express your opinion here, but it sounds very confused and somehow brings no added value.

On the one hand, you announce early on to have paid off a property, also to feel comfortable with it (or rather you show this off), on the other hand you say that the OP should just wait, yes, you even suggest paying for the property in cash. How that should work, no idea, maybe you just didn’t have a calculator on hand at the Promenade in Sylt or at Kaffee Kranzler

I think you rather lack the ability to put yourself in the consumer, in the OP, to feel how he thinks and what he intends, accordingly from my point of view there is little usable help coming from you.

I on the other hand am amused by your life story and your pity, but that does not belong here and helps no one, even if I’d like to shout to you, well done, you did a great job and mastered it.

Thomas, you have managed for a few days to weeks now to behave properly here and to bring your knowledge (and of course business) to people in a reasonable manner. But now you are already starting again to behave like the sole ruler in the financing forum and to talk others out of their opinions. Just do it like before, write in your concrete numbers where it fits, send people a message if they want to finance through you, and don't start fundamental discussions. It simply doesn't help; it repeats exactly the same every time anyway. Otherwise, it will go like the last times and you will quickly have one less forum to 'enrich'.

@TE: It is doable. The question I would ask myself is: Do I really want such a big pile of debt for a huge house? Wouldn't a house with 160m² and a smaller plot also do? The fact is, if one salary falls away, the currently planned financing will quickly become very tight. You could also say something about the scope of the 'core renovation', then one can rather say something about the estimated costs.

P.S.

Für mich, das muss jeder eh individuell für sich beurteilen, gibt es keinen günstigeren Zeitpunkt als den heutigen

Haha, that one was too good to leave uncommented. For YOU, of course, there is no better time.

The thread is so long, I don't want to go through everything again, so the question is: How much is the land approximately worth compared to the house price?

Sorry, but I have nothing to dispose of, to sell here, and I certainly am not just setting conditions.

I have expressed and justified my opinion, and already 2 users see it the same way and have informed me of this via message.

This controversy must be allowed to be conducted, I adhere to the rules, but first and foremost I want to help and yes, for ME there is no better time due to the interest rate situation and the demand, and I accept if others see it differently.

Regarding the OP with his starting point, it is not clear to me what he should wait for, and that better further information should be obtained so that an individual consideration can be made in a well-founded manner, I have also already stated.

I do not want to be the good user just because I write into the general tenor, but because I present my viewpoint in a well-founded way.

I am happy to hear and read other opinions, but what came was something I could only respond to like this.

I think the rules are being followed and so far everything is green.

Measure me by the quality that will grow, not by applauding what I see differently and will also express.